US cut fails to boost FTSE

London’s FTSE 100 Index remained stuck in the red today, despite the second big US interest rate cut in nine days.

The Footsie fell 68.7 points to 5768.6 by mid-morning as investors had already factored in yesterday's 0.5% cut from the Federal Reserve. It followed the 0.75% cut last week aimed at stimulating the all powerful US economy.